Crypto Theft: $4.5M Taken in CrediX Security Breach
On Monday, decentralized finance protocol CrediX disclosed a security breach resulting in approximately $4.5 million worth of cryptocurrency being stolen, according to blockchain security firm CertiK. Funds reportedly gained unauthorized minting privileges, enabling withdrawal of user collateral.
CrediX confirmed the incident on Twitter, citing a website outage, and pledged to recover all funds within two days.
The protocol acknowledged granting special privileges to the alleged attacker six days prior. The stolen funds were transferred via the layer-1 network Sonic (formerly Fantom Chain) to Ethereum.
While CrediX promises recovery, some users are expressing concern on official communication channels. Sonic’s token saw a small gain, but faces month-over-month price depreciation.
CrediX functions as an aggregator optimizing user interaction across DeFi protocols like Compound and Aave. The attack serves as a reminder of risks associated with highly lucrative yields, a topic previously cautioned about by SEC Chair Gary Gensler.
Approximately $437 million worth of assets are currently utilized in DeFi protocols, as per DeFiLlama data.
